This text of Louisiana § 51:2399.4 (Modernization tax credit approval) is published on Counsel Stack Legal Research, covering Louisiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
§2399.4. Modernization tax credit approval
A. The department, after consultation with the secretary of Louisiana Works and the
secretary of the Department of Revenue, may issue modernization tax credits provided the
employer meets the requirements established by Subsection B of this Section. Nothing in
this Chapter shall establish a right of the employer to receive retention and modernization
tax credits unless approved by the department.
B. The employer shall establish one of the following:
(1)An increase in the increase of maximum capacity or efficiency of the facility of
greater than ten percent.
(2)An approved investment from a company with multi-state operations with an
established competitive capital project program.
C.
(1)No contract shall be executed pursuant to this Chapter with
Free access — add to your briefcase to read the full text and ask questions with AI
§2399.4. Modernization tax credit approval
A. The department, after consultation with the secretary of Louisiana Works and the
secretary of the Department of Revenue, may issue modernization tax credits provided the
employer meets the requirements established by Subsection B of this Section. Nothing in
this Chapter shall establish a right of the employer to receive retention and modernization
tax credits unless approved by the department.
B. The employer shall establish one of the following:
(1) An increase in the increase of maximum capacity or efficiency of the facility of
greater than ten percent.
(2) An approved investment from a company with multi-state operations with an
established competitive capital project program.
C.(1) No contract shall be executed pursuant to this Chapter with an employer who
has defaulted on or otherwise not repaid any loan or other obligation involving public funds
nor with any employer who has ever declared bankruptcy under which an obligation of the
employer to pay or repay public funds or monies was discharged as part of such bankruptcy.
(2) No contract shall be executed under this Chapter with an employer who is in
default on any filing or payment with or to the state or any of its agencies or political
subdivisions and in which an assessment or judgment that is final and non-appealable has
been rendered, and remains outstanding, in favor of the state, or any of its agencies, or
political subdivisions.